Every month I go into this data with a mixture of fear and excitement. Will the numbers look better this month or not? Let’s find out.

[data pulled from Triangle MLS at about 10pm last night]

In Durham County there were 2,196 available listings at the end of April. 189 sales were completed in April meaning the current home inventory would be sold in 11.6 months. This is an improvement of 1.7 months, which follows a 1.6 month improvement in March. It is still a buyer’s market in Durham County, but there is steady improvement.

For the 27713 zip code there were 500 homes available on April 30. 41 sales were completed in April leaving 12.2 months of inventory available, which is about the same as last month. This is also the first month where there was more inventory available in South Durham that in the County as a whole.

[As an aside, there are 2 listings which have been on the market since 2007 and another 6 that were listed prior to May 1, 2008. For comparison, 112 houses were listed in April 2009]

Now let’s take a look at some of our favorite communities;

• Hope Valley Farms was the big winner this month with 7 closings. There are currently 59 homes available, which is 8.4 months of inventory — almost exactly the same as last month.
• Close behind was Woodcroft with 6 closings in April. Woodcroft has 75 which translates into 12.5 months of inventory. That’s a big drop from the 16.2 months of inventory available at the end of March. almost a third of the homes available in Woodcroft were listed in April, and another third in March, so these numbers will improve as that inventory burns off.
• Woodlake was the third place finisher with 5 closed sales in April. 17 homes are currrently available, which would sell through in 3.4 months. I’m pretty sure the sales number is a spike — we’ll see in May
• Parkwood again only had one closing in April. The number of homes available increased to 24. This bears watching, as it is really unusual.

So, like most months, some good news and some bad news. It’s up to you to decide which side of the glass you want to look at. See you next month.

Tags: housing stats

This entry was posted on Friday, May 1st, 2009 at 10:10 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.